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- 9 - 200512344 its sole discretion apply any Casualty or Condemnation Proceeds either: (A) to the payment of the Obligations as provided in paragraph (a) of Section 4.03 or (B) to the restoration or repair of the Affected Property; provided, however, that if the Beneficiary requires such proceeds to be applied to the restoration or repair of the Affected Property, the Beneficiary will advance to the Trustor in accordance with the foregoing provisions of this Section 1.05( d), the Casualty and Condemnation Proceeds, less such amounts that may have been expended by the Beneficiary to effectuate any cure of such Default. All Casualty or Condemnation Proceeds remaining after the payment for restoration and repair of the Affected Property pursuant to this Section 1.05(d) may, at the option of the Beneficiary be applied to the prepayment of the loans or other indebtedness constituting the Obligations hereunder in the manner and to the extent specified in Section 2.08(b) of the Credit Agreement and, to the extent not required to be prepaid under Section 2.08(b) of the Credit Agreement, to be paid to the Trustor or to the repayment of Indebtedness under Section 2.08(a) of the Credit Agreement. (e) Compromise, Adiustment or Settlement. The Beneficiary shall be entitled at its option to participate in any compromise, adjustment or settlement in connection with any claims for loss, damage or destruction under any policy or policies of insurance, in excess of $500,000, and the Trustor shall within five Business Days after request therefor reimburse the Beneficiary for all out-of-pocket expenses (including reasonable attorneys' fees and disbursements) incurred by the Beneficiary in connection with such participation. The Trustor shall not make any compromise, adjustment or settlement in connection with any such claim unless in accordance with Sections 6.01(b) and (c) ofthe Credit Agreement. (f) Foreclosure. Etc. In the event of foreclosure ofthe Lien of this Deed of Trust or other transfer of title or assignment of the Trust Estate in extinguishment, in whole or in part, of the Obligations, all right, title and interest ofthe Trustor in and to all policies of casualty insurance covering all or any part of the Trust Estate shall inure to the benefit of and pass to the successors in interest to the Trustor or the purchaser or grantee of the Trust Estate or any part thereof. Section 1.06. Impositions. (a) Payment of Impositions. Except to the extent otherwise permitted under Section 5.03 ofthe Credit Agreement, the Trustor shall payor cause to be paid, before any fine, penalty, interest or cost attaches thereto, all taxes, assessments, water and sewer rates, utility charges and all other governmental or nongovernmental charges or levies now or hereafter assessed or levied against any part ofthe Trust Estate (including, without limitation, nongovernmental levies or assessments such as maintenance charges, owner association dues or charges or fees, levies or charges resulting from covenants, conditions and restrictions affecting the Trust Estate) or upon the Lien or estate ofthe Beneficiary or the Trustee therein (collectively, Deed of Trust NY3:#7374669